The number of women on boards has improved over the past year, but a “significant” gender pay gap persists, a report by Hay Group reveals.
The study shows that 83pc of board directors across Europe were male last year, compared to 89pc the year before. Seven of the 12 countries analysed exceeded the 90pc mark in 2011.
However, despite the improvement in the number of women reaching the top, the gender pay gap has widened on European boards.
Hay Group suggests this is because women are not being appointed to the top-paying strategic roles, rather than outright sex discrimination.
Research in Britain shows the number of women being hired for non-executive – or non-core strategic – board roles, has shot up since the Davies report into female board representation, but that executive appointments have remained static.
Typically non-executive directors are paid less than executive roles, which could explain the pay gap.
Hay Group said the actual pay gap between male and female board roles across Europe was 9pc last year, up from 7pc the year before, and broadening to as much as 22pc in Italy.
Carl Sjöström, director of executive reward for Europe at Hay Group, said: “Despite more women being appointed to European boards, the opportunities offered to them when they get there are clearly still lacking.”
Click here to continue reading
Powered by Facebook Comments